Block, Inc. (NYSE:SQ) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP cut its holdings in shares of Block, Inc. (NYSE:SQ) by 58.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,450 shares of the technology company’s stock after selling 23,490 shares during the quarter. Qsemble Capital Management LP’s holdings in Block were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SQ. Truvestments Capital LLC purchased a new position in shares of Block during the 3rd quarter worth approximately $115,000. DRW Securities LLC acquired a new position in Block during the third quarter worth $398,000. Independent Advisor Alliance boosted its position in shares of Block by 70.9% during the third quarter. Independent Advisor Alliance now owns 12,601 shares of the technology company’s stock worth $846,000 after buying an additional 5,226 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Block in the third quarter valued at $116,000. Finally, Douglass Winthrop Advisors LLC grew its stake in shares of Block by 4.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 22,115 shares of the technology company’s stock valued at $1,485,000 after buying an additional 880 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Performance

NYSE SQ opened at $89.04 on Wednesday. The business has a 50 day moving average price of $74.76 and a 200 day moving average price of $68.32. The company has a market capitalization of $55.19 billion, a P/E ratio of 50.02, a PEG ratio of 1.22 and a beta of 2.48. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $94.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Insider Buying and Selling at Block

In other Block news, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the sale, the chief financial officer now owns 246,967 shares of the company’s stock, valued at $22,580,192.81. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the transaction, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,053 shares of company stock valued at $2,393,972. Insiders own 10.49% of the company’s stock.

Analysts Set New Price Targets

SQ has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. William Blair restated an “outperform” rating on shares of Block in a report on Friday, November 15th. Canaccord Genuity Group upped their target price on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Benchmark reissued a “buy” rating and issued a $99.00 price target on shares of Block in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Block in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Block currently has an average rating of “Moderate Buy” and a consensus target price of $91.46.

Block Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.